The transaction closed on September 22nd, 2022.
Vitalis closed on a 31,200 SF specialty pharmacitcal facility located at 1191 E South Blvd, Rochester Hills, MI for $9,400,000. Henry Ford Health is on a multi-decade Absolute NNN Lease and the transaction sold off-market for $301 / SF. The build to suit delivered in 2017, however was recently expanded to accommodate Henry Ford’s growth needs. The mission critical facility serves patients in all 50 states with complex medication therapies for acute and chronic health conditions.
Specialty pharmacies stock drugs that require special handling, care and distribution. Once prescribed these treatments require constant communication between patient and health professional to ensure proper use of the medication and to address potential side effects.
“This is one of the most advanced pharmaceitcal processing facilities in the country” says Managing Director LaBreche “The Health System has invested heavily into automation and robotic systems creating the future of drug processing and delivery.”
Vitalis plans to accelerate the pace of acquisitions in Top 50 metropolitan areas with a goal of closing $150,00,000 in Medical Office and Life Science by the end of 2022.
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About Vitalis:
Elliot LaBreche is the founder of Vitalis, a vertically integrated real estate investment company focused on medical office and life science investment sales, acquisitions, and leasing across the US.
About Advenir:
Stephen Vecchitto, founded Advenir in 1996 and serves as the company’s Managing Director. Advenir acquires, develops, and manages multi-family and single-family rental communities on behalf of high net worth and institutional investors. Advenir’s current multi-family portfolio consists of 15,000 units valued at over $3 Billion.
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